Sistema, the iconic New Zealand-based manufacturer, marketer and distributor of plastic kitchen storage containers, today announced that it will be acquired by U.S.-based Newell Brands for $NZD660 million. The sale of Sistema to Newell Brands, a company with a market capitalisation of $USD22 billion based in Hoboken, New Jersey, signifies an exciting new era for the company and the continued employment of its more than 700 employees in New Zealand and overseas.
Established 34 years ago by founder and Managing Director Brendan Lindsay, the company has seen its brand grow into a world recognised leader in innovation with a strong heritage and global distributor network.
“Newell has the expertise and market access that will enable them to take the business to the next level and create new opportunities for the company, especially in North America,” he says.
“The growth Sistema has experienced in recent years can be attributed in a large part to the hard work and dedication of our New Zealand and overseas employees. That is why I am absolutely thrilled that Newell has agreed to keep manufacturing in New Zealand for the next 20 years at our recently opened 52,000sqm manufacturing facility at a green fields site near Auckland airport.”
Mark Tarchetti, President of Newell Brands, says Sistema has been on the company’s radar for a number of years as they watched its remarkable rise into a world leading brand.
“It is an excellent business and an extraordinary success story,” he says.
“We have previously made approaches to the company and are delighted that we have been able to reach an agreement to purchase the business. We believe there are some very exciting opportunities for the company and we plan to leverage our position as a Fortune 500 company to provide the platform for further growth for Sistema.
“The new world class manufacturing facility is a tribute the fantastic efforts and talents of Brendan and his team. The plant's level of sophisticated automation will ensure its products remain internationally competitive and will help to significantly scale the business.
For Brendan Lindsay who will step down from his position as Managing Director, the sale is the culmination of 34 years work that started in a garage in Cambridge.
“It has been an incredibly exciting, and at times challenging, journey that is a tribute to the hard work and dedication of a lot of people who work and have worked for the company. We had a vision for the company but I don’t think even we imagined we would be selling our products in more than 90 countries around the world. I look forward to watching the continued growth of the business.”
About Sistema
Sistema is a New Zealand based manufacturing company that sells a range of plastic storage containers in over 90 countries. It has offices in Australia, UK, France, Scandinavia, and USA along with an extensive worldwide distribution network. It recently opened a world class 52,000 sqm manufacturing plant in Auckland and has over 700 employees.
About Newell Brands
Newell Brands (NYSE: NWL) is a leading global consumer goods company with a strong portfolio of well-known brands, including Paper Mate®, Sharpie®, Dymo®, EXPO®, Parker®, Abu Garcia®, Berkley®, Shakespeare®, PENN®, Pflueger®, Marmot®, Sunbeam®, Rubbermaid Commercial Products®, Baby Jogger®, NUK®, Rubbermaid®, Contigo and Yankee Candle®. For hundreds of millions of consumers, Newell Brands makes life better every day, where they live, learn, work and play.